Answer to Question #186780 in Management for Lucy

Question

If you were given the opportunity to change South Africa's economic system, explain which system you believe would be the best for the country? Motivate your answer.

Answer 1

I believe the communist economic system will work in South Africa. This is because the state will take ownership, allocation and production functions of the economy. In this case, the distribution of goods and services will shift from private to public and all citizens, be it blacks or whites will have to work uniformly getting same income based on what they do. Nonetheless, this will also help combat discrimination in the work places that has an impact towards the economy.